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Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
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Name : |
GOTOH & CO LTD |
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Registered Office : |
3-23-14 Higashi-Komagata Sumidaku Tokyo
130-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2013 |
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Date of Incorporation : |
January 1963 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Importer of Stainless Steel, Nickel, Titanium, Other Alloy Scraps & Nickel Scraps from New Zealand, Australia, USA, Hong Kong & South Africa · Exporter of Stainless Steel Coils, Sheets, Boards, Plates, Angled & Crashed Coils to China, Malaysia, Hong Kong, Taiwan, Korea, Vietnam, Pakistan & Indonesia |
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No. of Employees : |
42 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JAPAN ECONOMIC OVERVIEW
in the years following World War II, government-industry cooperation, a
strong work ethic, mastery of high technology, and a comparatively small defense
allocation (1% of GDP) helped Japan develop a technologically advanced economy.
Two notable characteristics of the post-war economy were the close interlocking
structures of manufacturers, suppliers, and distributors, known as keiretsu,
and the guarantee of lifetime employment for a substantial portion of the urban
labor force. Both features are now eroding under the dual pressures of global
competition and domestic demographic change. Japan's industrial sector is
heavily dependent on imported raw materials and fuels. A small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. For three decades, overall real economic growth
had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s,
and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging
just 1.7%, largely because of the after effects of inefficient investment and
an asset price bubble in the late 1980s that required a protracted period of
time for firms to reduce excess debt, capital, and labor. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan into recession. Government stimulus
spending helped the economy recover in late 2009 and 2010, but the economy
contracted again in 2011 as the massive 9.0 magnitude earthquake and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Prime Minister Shinzo ABE has declared the economy his government's
top priority; he has overturned his predecessor's plan to permanently close
nuclear power plants and is pursuing an economic revitalization agenda of
fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans
Pacific Partnership negotiations in 2013, a pact that would open Japan's
economy to increased foreign competition and create new export opportunities
for Japanese businesses. Measured on a purchasing power parity (PPP) basis that
adjusts for price differences, Japan in 2013 stood as the fourth-largest
economy in the world after second-place China, which surpassed Japan in 2001,
and third-place India, which edged out Japan in 2012. The new government will
continue a longstanding debate on restructuring the economy and reining in
Japan's huge government debt, which is exceeding 230% of GDP. To help raise
government revenue and reduce public debt, Japan decided in 2013 to gradually
increase the consumption tax to a total of 10% by the year 2015. Japan is
making progress on ending deflation due to a weaker yen and higher energy
costs, but reliance on exports to drive growth and an aging, shrinking
population pose other major long-term challenges for the economy.
|
Source : CIA |
GOTOH & CO LTD
KK Gotoh
3-23-14
Higashi-Komagata Sumidaku Tokyo 130-0005 JAPAN
Tel: 03-3625-2711 Fax: 03-3625-3094
E-Mail address: info@gotohm.com
· Importer of Stainless Steel, Nickel, Titanium, Other Alloy Scraps & Nickel Scraps from New Zealand, Australia, USA, Hong Kong & South Africa
·
Exporter of Stainless Steel Coils, Sheets,
Boards, Plates, Angled & Crashed Coils to China, Malaysia, Hong Kong,
Taiwan, Korea, Vietnam, Pakistan & Indonesia
Ichikawa, Ohta, Shibatagun (Miyagi) (--attached with
cutting, rolling works)
MORIHIRO
GOTOH, PRES & CEO
Kimihide
Gotoh, s/mgn dir Hiromichi Gotoh,
mgn dir
Shoji Gotoh,
dir Kinuko Kohno,
dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAI A/SALES Yen 4,256 M
PAYMENTSNo Complaints CAPITAL Yen 90 M
TREND SLOW WORTH Yen 966 M
STARTED 1963 EMPLOYES 42
TRADING HOUSE SPECIALIZING IN STAINLESS STEEL &
SCRAPS.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject company was established originally in 1938 by Kentaro Gotoh as stainless steel rolling workshop in Arakawaku, Tokyo, on his account, and was incorporated in 1963, the firm has been succeeded by his descendants. This is a trading house, essentially owned and managed by Gotoh family, specializing in importing stainless steel scraps and exporting stainless steel products. Imports are from New Zealand, Australia, USA, Asia, while exports centrally to S/E Asian countries, including China. Handles a total of about 65,000 tons products/year.
The sales volume for May/2013 fiscal term amounted to Yen 4,256 million, an 18% down from Yen 5,188 million in the previous term. High Yen hurt both imports & exports, reducing earnings in Yen terms. The recurring profit was posted at Yen 20 million and the net profit at Yen 18 million, respectively, compared with Yen 1 million recurring profit and Yen 9 million net profit, respectively, a year ago.
For the current term ending May 2014 the recurring profit is projected at Yen 25 million and the net profit at Yen 20 million, respectively, on a 5% rise in turnover, to Yen 4,450 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Jan 1963
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
280,000 shares
Issued:
180,000 shares
Sum: Yen 90 million
Major shareholders (%):
Morihiro Gotoh (36.5), Eiko Gotoh (28.6)
No. of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
Activities: A trading house for import and export of stainless steel & scraps totaling 65,000 tons/year:
Imports (85%) totaling 55,000 tons/year: stainless steel, nickel, titanium, other alloy scraps, nickel scraps, other, from New Zealand, Australia, USA, Hong Kong, S Africa, other;
Exports (15%) totaling 10,000 tons/year: stainless steel coils, sheets, boards, plates, angled, crashed coils, other, to China, Malaysia, Hong Kong, Taiwan, Korea, Vietnam, Pakistan, Indonesia, other.
Clients: [Steel mills, steel dealers] Nippon Steel & Sumikin Stainless Steel Corp, Nippon Steel Trading, Sumitomo Metals (Naoetsu) Ltd, Nippon Yakin Kogyo, Sumikin Bussan Corp, Mitsui & Co, other.
Exports (10,000 tons/year) to Malaysia, Hong Kong, China, Taiwan, Korea, Vietnam, Pakistan, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Sumikin Bussan Corp, Nippon Stainless Shoji, Nippon Yakin Kogyo, Mitsui & Co, Nippon Steel Trading, other.
Imports (55,000 tons/year) from New Zealand, Australia, USA, Hong Kong, S Africa, other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises at
the caption address are owned and maintained satisfactorily.
Bank References:
· MUFG (Oshiage)
· Nakanosato Shinyo Kumiai (H/O)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/05/2014 |
31/05/2013 |
31/05/2012 |
31/05/2011 |
|
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Annual
Sales |
|
4,450 |
4,256 |
5,188 |
6,785 |
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Recur.
Profit |
|
25 |
20 |
1 |
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Net
Profit |
|
20 |
18 |
9 |
54 |
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Total
Assets |
|
|
4,522 |
4,490 |
4,683 |
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Current
Assets |
|
|
2,903 |
2,883 |
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Current
Liabs |
|
|
1,107 |
1,137 |
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Net
Worth |
|
|
966 |
947 |
937 |
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Capital,
Paid-Up |
|
|
90 |
90 |
90 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
4.56 |
-17.96 |
-23.54 |
22.94 |
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Current Ratio |
.. |
262.24 |
253.56 |
.. |
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|
N.Worth Ratio |
.. |
21.36 |
21.09 |
20.01 |
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R.Profit/Sales |
0.56 |
0.47 |
0.02 |
.. |
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N.Profit/Sales |
0.45 |
0.42 |
0.17 |
0.80 |
|
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Return On Equity |
.. |
1.86 |
0.95 |
5.76 |
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Notes:
Forecast (or estimated) figures for 31/05/2014 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.71 |
|
UK Pound |
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
sub |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.